State of Tennessee Treasury Department lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 19.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,228,392 shares of the healthcare product maker’s stock after buying an additional 196,034 shares during the quarter. State of Tennessee Treasury Department owned about 0.07% of Abbott Laboratories worth $65,547,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Tributary Capital Management LLC bought a new position in Abbott Laboratories in the third quarter valued at approximately $106,000. Heritage Trust Co lifted its stake in Abbott Laboratories by 10.1% in the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after buying an additional 200 shares in the last quarter. Winfield Associates Inc. lifted its stake in Abbott Laboratories by 3.9% in the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after buying an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. lifted its stake in Abbott Laboratories by 17.7% in the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after buying an additional 370 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its stake in Abbott Laboratories by 349.0% in the second quarter. JFS Wealth Advisors LLC now owns 2,694 shares of the healthcare product maker’s stock valued at $131,000 after buying an additional 2,094 shares in the last quarter. Institutional investors own 71.15% of the company’s stock.
ABT has been the topic of a number of research reports. BMO Capital Markets reissued a “market perform” rating on shares of Abbott Laboratories in a research report on Thursday, October 19th. Barclays upped their price target on shares of Abbott Laboratories from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 28th. Bank of America reaffirmed a “buy” rating and set a $60.00 price target (up from $56.00) on shares of Abbott Laboratories in a research report on Wednesday, October 4th. ValuEngine lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Stifel Nicolaus upped their price target on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $60.24.
Abbott Laboratories (ABT) traded down $0.09 during mid-day trading on Thursday, hitting $58.83. 4,340,800 shares of the company traded hands, compared to its average volume of 6,442,114. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. Abbott Laboratories has a fifty-two week low of $39.25 and a fifty-two week high of $59.60. The firm has a market capitalization of $102,050.00, a P/E ratio of 48.62, a PEG ratio of 1.88 and a beta of 1.55.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 13.98%. The business had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same period in the prior year, the company posted $0.59 earnings per share. Abbott Laboratories’s revenue was up 28.8% compared to the same quarter last year. equities research analysts anticipate that Abbott Laboratories will post 2.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio is 87.60%.
In related news, insider Brian J. Blaser sold 23,866 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.55, for a total transaction of $1,325,756.30. Following the completion of the sale, the insider now owns 146,387 shares of the company’s stock, valued at $8,131,797.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 28,319 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $54.92, for a total transaction of $1,555,279.48. Following the completion of the transaction, the insider now directly owns 102,117 shares of the company’s stock, valued at approximately $5,608,265.64. The disclosure for this sale can be found here. Insiders sold 501,172 shares of company stock worth $27,533,150 over the last 90 days. 0.76% of the stock is currently owned by corporate insiders.
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Abbott Laboratories Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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